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Osun To Strengthen Cooperative Societies For Economic Sustainability

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By Deborah Oladejo, Osogbo
Osun State government has assured cooperative societies of its continued support through policies to make them strong drivers for economic empowerment, poverty alleviation and wealth creation particularly among women, and other vulnerable groups.
The government identified cooperative societies as key in the areas of capital formation process through which many residents have the opportunity to access funds for the expansion of their businesses.
Speaking during the 9th Congress and Award Presentation of Federation of Osun State Cooperative, the Special Adviser to the Governor on Civic Engagement, Hon. Olatunbosun Oyintiloye, also described cooperative societies as good financial platform that has played pivotal role in economic development of the State.
The Sdpecial adviser noted that the overwhelming relevance of the cooperative system particularly for pursuing economic empowerment at the grassroots level is obviously the main reason why Oyetola’s administration has continued to make socioeconomic policies targeted towards strengthening and supporting cooperatives societies for it to function properly according to the laws establishing it.
He said: This is with the view to effectively channel supporting funds to the cooperative societies to enable their members have greater access to loans for their businesses, as ultimately envisaged to turn around the economy of the communities sustainably and very rapidly.
“As tools for economic development, poverty alleviation and wealth creation, the state government recognises the importance of cooperative societies as a critical political and economic force, while leaving no stone unturned to give necessary policy frameworks and other supports which would make it thrive in the state economy.
“While the current administration has executed and facilitated myriad of social intervention programs focusing on the youths, women, farmers, the socially vulnerable among others to serve as economic stimulus package after the negative impact of Covid-19, there are concerted efforts to position the existing cooperative societies as a strong driver of socioeconomic sustenance, with the intent to expand the capital base of our medium and small enterprises for the growth of the state economic indices”, he added.”
Also speaking, the Special Adviser on Commerce, Industry, cooperative and empowerment, Hon. Christiana Ogunfolaju said that the state government and the cooperative societies are partners in progress.
She emphasised that the present administration of Oyetola has painstakingly created a conducive atmosphere for regulated cooperative practice and businesses through several schemes facilitating single-digit loan access which many cooperative have benefitted from through Osun Micro-credit agency.
Ogunfolaju further noted that “Keke Ileri” empowerment scheme and women cooperative intervention would soon be rolled out for the benefit of all, stating that Oyetola’s administration is committed to the development of cooperative movement in the state.
Earlier in his remarks, the state President of the society, Elder Samuel Olawole had commended Governor Adegboyega Oyetola for giving them an enabling environment for their societies to thrive, saying the myriad of supports given by his administration has been significant and
He, however, urged the governor not to relent in his people centred governance which has brought meaningful impacts on the state economy.
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